Gold News

Gold is trading at $1021 as of 9:26am, London Time. Gold’s Pool-Position is 19% Long, meaning that most Finotec clients are Selling the precious metal.

Gold Climbs as the Dollar continues to drop and investor’s hedge

Gold is trading at $1021 as of 9:26am, London Time. Gold’s Pool-Position is 19% Long, meaning that most Finotec clients are Selling the precious metal.

Gold advanced, erasing an earlier decline, as signs of a recovering global economy spurred demand for precious metals as a hedge against rising inflation. “Yesterday’s higher-than-expected U.S. CPI numbers spurred further investment demand,” said Stefan Graber, an analyst with Credit Suisse Group in Singapore. “The move above the $1,000 mark is being warranted by the fundamentals” such as a weak dollar and inflation. “There’s no Asian demand at all because of higher prices,” Kate Harada, a senior trader with Mitsubishi Corp., said today from Tokyo. “The current rally in precious metals is purely speculative and technically driven.” Gold is trading at $1021 as of 9:26am, London Time. Gold’s Pool-Position is 19% Long, meaning that most Finotec clients are Selling the precious metal.

Derivative and forex trading broker Finotec is a division of leading real-time Internet trading company Finotec Trading Inc, which pioneered the world of online forex trading in 1998. After launching our revolutionary forex online trading platform in 2001, we continued to improve our services and now serve clients of all sizes in many locations worldwide, offering them real-time Internet trading not only in currencies, but also in options, commodities, CFD's, and stocks. Developed by a team of Internet and foreign exchange experts, the Finotec online Trading Platform provides both institutional and individual investors with direct and immediate access to the global currency markets. ...More

Risk WarningSite visitors hereby acknowledge that: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.